Document Type : Original Article
Authors
1
Associate Professor, Department of Business Economics, Faculty of Economics, Allameh Tabatabai University, Tehran, Iran.
2
M.Sc. in Economics, Faculty of Economics, Allameh Tabatabai University, Tehran, Iran.
Abstract
In 2009, following the financial crisis and mistrust of central institutions financial markets had faced a new phenomenon called virtual currencies. Unique features of virtual currencies, such as anonymity, non-interference of government institutions, in controlling them including the central bank, peer-to-peer transfer etc, On the other hand the process of acceptance of virtual currencies has placed issues such as combating money laundering in the spotlight of policymakers and global decision-making centers. The purpose of this article is to identify the effect of virtual currencies vogue on money laundering process and also to check the impact of features of virtual currencies on each stage of the money laundering process. In this article, to determine the variables, first based on the library method, we identified the features of virtual currencies (user anonymity, non-sovereignty and transnationality) that are likely to be effective on facilitating money laundering. In the following, we analyzed the effect of these features on money laundering by using the qualitative content analysis method and then we investigated the effect of each of these features on the money laundering process stages by using the AHP method. The obtained results show that based on qualitative content analysis, features of virtual currencies lead to the facilitation of money laundering process. Also, based on the experts' response to the questionnaire and its analysis by AHP method, in the money laundering process, the anonymity, non-sovereignty and transnationality of virtual currencies, respectively, lead to attracting money launderers.
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